Newman Morris Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05220738 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

NEWMAN MORRIS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D S Harris

C G Morris

SECRETARY:

D J Gillies

REGISTERED OFFICE:

Wellington House

273-275 High Street

London Colney

Hertfordshire

AL2 1HA

REGISTERED NUMBER:

05220738 (England and Wales)

ACCOUNTANTS:

Newman Morris Limited

Chartered Accountants

Wellington House

273-275 High Street

London Colney

Hertfordshire

AL2 1HA

FIXED ASSETS

Intangible assets

4

129,388

92,261

Tangible assets

5

3,612

7,332

Investments

6

222,422

-

355,422

99,593

CURRENT ASSETS

Stocks

108,712

90,259

Debtors

7

333,467

426,092

Cash at bank

7,856

51,719

450,035

568,070

CREDITORS

Amounts falling due within one year

8

(288,475

)

(328,181

)

NET CURRENT ASSETS

161,560

239,889

TOTAL ASSETS LESS CURRENT LIABILITIES

516,982

339,482

CREDITORS

Amounts falling due after more than one year

9

(454,896

)

(295,373

)

NET ASSETS

62,086

44,109

CAPITAL AND RESERVES

Called up share capital

1,300

1,300

Retained earnings

60,786

42,809

SHAREHOLDERS' FUNDS

62,086

44,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 31 July 2019 and were signed on its behalf by:

C G Morris - Director

1.	STATUTORY INFORMATION

Newman Morris Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

During the year a block of clients was acquired, which is being amortized over its estimated useful

life of 7 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 15% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2017 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 November 2017

424,383

12,934

437,317

Additions

74,000

-

74,000

At 31 October 2018

498,383

12,934

511,317

AMORTISATION

At 1 November 2017

340,748

4,308

345,056

Charge for year

32,206

4,667

36,873

At 31 October 2018

372,954

8,975

381,929

NET BOOK VALUE

At 31 October 2018

125,429

3,959

129,388

At 31 October 2017

83,635

8,626

92,261

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2017

106,471

Additions

1,405

At 31 October 2018

107,876

DEPRECIATION

At 1 November 2017

99,139

Charge for year

5,125

At 31 October 2018

104,264

NET BOOK VALUE

At 31 October 2018

3,612

At 31 October 2017

7,332

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

222,422

At 31 October 2018

222,422

NET BOOK VALUE

At 31 October 2018

222,422

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

227,738

259,074

Other debtors

105,729

167,018

333,467

426,092

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

27,700

34,030

Taxation and social security

176,092

196,469

Other creditors

84,683

97,682

288,475

328,181

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

454,896

295,373

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

The bank overdraft is secured by a debenture over the company's assets.

11.	RELATED PARTY DISCLOSURES

Mr C Morris and Mr D Harris are personal guarantors of the bank overdraft and a loan to the

company. The balance outstanding on all the loans and overdraft at the balance sheet date amounted

to £276,515..

12.	ULTIMATE CONTROLLING PARTY

The company is under the control of Mr C Morris by virtue of the beneficial ownership of the

majority of the share capital of the company.